First Reliance Bancshares (OTCBB:FSRL) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday, Zacks.com reports.
According to Zacks, “First Reliance Bancshares only subsidiary is First Reliance Bank, a South Carolina banking corporation. The company conducts no business other than through its ownership of the Bank. “
FSRL has been the topic of a number of other research reports. Janney Montgomery Scott began coverage on shares of First Reliance Bancshares in a research note on Tuesday, January 19th. They issued a “buy” rating on the stock. Hovde Group started coverage on shares of First Reliance Bancshares in a research note on Monday, February 22nd. They issued an “outperform” rating on the stock.
First Reliance Bancshares has a 1-year low of $6.40 and a 1-year high of $8.00. The company has a market capitalization of $65.09 million, a price-to-earnings ratio of 4.64 and a beta of 0.73.
About First Reliance Bancshares
First Reliance Bancshares, Inc operates as the bank holding company for First Reliance Bank that provides banking services in the United States. The company offers checking, savings, money market, and individual retirement accounts; certificates of deposit; and deposit insurance products. It also provides personal loans, including unsecured, auto, real estate, overdraft protection, and other loans, as well as home equity line of credit; business loans, such as business installment, commercial real estate, and overdraft protection loans, as well as business lines of credit; mortgage loans; and debit and credit card services.
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